This image contains Cyrillic characters and is in Slavonic
These Cyrillic letters are also abbreviations or contractions -- indicated by the "titla" above the letters -- which can make it even harder to decipher. Here's my attempt:
IC XC Іисус Христос Iesus Christos Jesus Christ [C=s)
ни KA _____ Ni ka Slavonic transliteration of the Greek(νικᾷ) Conquers
This is also what is stamped in the loaf for the Eucharist, the portion removed during the Proskomedia Rite (the Preparation) called the "lamb."
on top of the cross bar
Сынъ Божіи Syne Bozhij Son of God
under the bar far left and right
Царь Tsar King_________ славы slavi of Glory
K копие kopie=spear ________ T трость trost=reed
on the left at the base of the cross
МЛ Место лобное ML mesto lobnoje
Place of the Skull
base at right
РБ рай бысть RB raje byst
becomes Paradise
рай raje means garden but the Greek of the LXX renders the Hebrew גַּן = gan=garden as παράδεισος= paradeisos=Paradise
either side of skull and bones
Г глава G/H hlava or glava Head __________ А Адама Adama of Adam